Qihoo Says Misunderstood By Western Investors

(Beijing) – Qihoo 360 (NASDAQ: QIHU), a free antivirus software provider, said on November 17 that western investors do not understand its business model.

At a conference releasing its third quarter results, Qihoo CEO Zhou Hongyi said some capital market operations short-selling Qihoo are only "a profit-making exercises".

Zhou's remarks refer to a report by noted short-seller Citron Research early this month, which called Qihoo the "the most overvalued Chinese Internet Stock" and gave it a price target of US$5 a share.